Bitcoin
$3,215.33 -2.07%
BTC · 4w

Cryptocurrencies May Get its Chance as Bear Market Indicator Reaching New Highs for Stock Market

Cryptocurrency, Goldman Sachs, Stock Market–While investors respond to the upcoming Bitcoin Cash hard fork, the majority of the market continues to anticipate news surrounding the approval of a Bitcoin Exchange-Traded Fund by the United States Securities and Exchange Commission, a move that could signal the entrance of large capital institutional investors.

Last week, EWN covered a report by Bloomberg that the lack of interest was behind Wall Street’s slow burn effort to get involved in cryptocurrency. However, a falling and uncertain stock market could pave the way for greater crypto recognition as investors look to get out of the traditional markets and into the increasingly price stable landscape of Bitcoin.

On Monday, Goldman Sach’s bear market prediction tool was updated to “flashing red,” achieving the highest level of instability and regression to come by the stock market since the 1960’s and 1970’s. Historically, the tool has indicated a zero percent return over the next 12 months while also signaling that stocks pose a substantial risk for investors who continue to trade and stick by them.

According to CNBC,

“Goldman’s bear market indicator — which takes into account the unemployment rate, manufacturing data, core inflation, the term structure of the yield curve and stock valuation based on the Shiller PE ratio — is at a rare 73 percent, its highest level since the late 1960s and early 1970s. The caution from one of Wall Street’s banking bellwethers came as the Dow Jones Industrial Average and S&P 500 each added to steep losses over the past few weeks. The Dow finished Monday’s session down 602 points — or 2.3 percent — while the broader S&P’s slid 1.9 percent, bringing its three-month move to a loss of 3.7 percent.”

Goldman chief global equity strategist Peter Oppenheimer went on to write that the indicator was approaching a dangerous prognosis for the health of the market moving forward, a sentiment which ech...

Continue on ethereumworldnews.com
Recent news
BTC -2.07% · localcoin.ca · 15h

Localcoin Expands to Nova Scotia and New Brunswick!

Localcoin is now in the Maritime Localcoin, Canada’s largest Bitcoin ATM network, has expanded to Nova Scotia and New Brunswick. With the placement of 9 machines in key population centres, residents o...
BTC -2.07% · twitter.com · 16h

BTCPay merchants can now easily convert to fiat!

Awesome! @blockonomics_co provides auto-forwarding service to static address.It is one less step to sell to fiat.Just one question @blockonomics_co why are you using P2PKH over P2SH-P2WSH ?https://t.c...
BTC -2.07% · streamable.com · 16h

Bitcoin Vets Right Now

Check out this video on Streamable using your phone, tablet or desktop.
BTC -2.07% · medium.com · 17h

The EVM is Fundamentally Unsafe

Over the past three years of smart contract development, the cryptocurrency community has seen smart contracts written in Solidity subverted by a variety of bugs and exploits (the DAO exploit, the…
BTC -2.07% · youtu.be · 19h

Saifedean Ammous on Bitcoin hype.

It turns out the best book on Bitcoin was written by someone who thinks the cryptocurrency is not a particularly good form of payment, not particularly anony...
BTC -2.07% · whatbitcoindid.com · 20h

Alex Gladstein on Why Bitcoin Matters for Freedom

In this episode, I talk with Alex Gladstein, Chief Strategy Officer at The Human Rights Foundation. We discuss how Bitcoin and cryptocurrencies increase freedom under authoritarian regimes and how...